Which of the following statements about cash basis accounting and accrual basis accounting is correct?
A. Using the cash basis of accounting, if payment is received before delivery of goods or a service, net income is affected when goods or services are delivered.
B. Using the accrual basis of accounting, if payment is received before delivery of goods or a service, revenue is recorded at the time the payment is received.
C. Using the accrual basis of accounting, if payment is received after delivery of goods or a service, an asset is recorded at the time the good or service was delivered.
D. Using the cash basis, if payment is received after delivery of goods or a service, deferred revenue is recorded.
Answer: C
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A project consists of four consecutive tasks that have average duration and worst-case duration estimates (in days) as shown in the table. Use Newbold's model to determine the aggregated one sigma buffer for this project
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Euan manages product design and development at a toy company. The junior managers who report to him tell him that new complementors for the firm's products are available. What should Euan's reaction be?
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All of the following statements about the interest settlement option are true EXCEPT
A) The minimum guaranteed interest rate is usually equal to the prime rate. B) The interest can be paid monthly, quarterly, semiannually, or annually. C) The beneficiary may be allowed to withdraw part or all of the proceeds. D) The beneficiary may be allowed to change to another settlement option.